Lime plaster modified with pozzolana based on calcined kaoline mixed with mudstone and reference lime plaster are studied in the paper. For the studied materials, determination of bulk density, matrix density and total open porosity is done first. Then, specific attention is paid to the assessment of moisture diffusivity and chloride diffusion coefficient that are considered as decisive parameters for the materials’ durability. The measured data are used as input parameters for computational modeling of studied materials’ performance using computer code TRANSMAT 6.2 based on finite element computer simulation tool. On the basis of measured and calculated results, the applicability of newly developed plaster for renewal of historical buildings is discussed.